The Indian stock market is expected to open on a flat to slightly negative note on June 18. Gift Nifty was seen trading near the 24,834 mark, indicating a cautious start close to Monday’s close of 24,853.4 for the Nifty 50. Broader market sentiment remains under pressure due to geopolitical concerns and weak global cues.
Tensions in the Middle East have pushed global crude oil prices higher. Rising oil prices could increase inflation risks for India, which is heavily dependent on oil imports. This may weigh on energy, auto, and logistics stocks as cost pressures mount. Investors are also awaiting signals from the U.S. Federal Reserve on interest rates, which continues to influence market sentiment.
On the technical front, Nifty 50 is facing resistance around the 25,000 to 25,170 level. The index has repeatedly failed to close above this zone. Support for the index is seen near the 24,700 to 24,650 level. A decisive move above 25,170 may open the door for further gains, while a fall below 24,650 could trigger selling pressure.
The Bank Nifty index is also trading in a narrow range. It faces resistance around 56,000 and has support between 55,200 and 55,700. The index lacks strong momentum, suggesting a possible sideways movement unless a breakout occurs on either side.
Foreign portfolio investors turned net buyers on Monday after a gap of four sessions, while domestic institutional investors continued their consistent buying streak. However, overall market sentiment remains fragile, with sector-specific volatility expected.
Among sectors, IT showed relative strength in the previous session, while pharma, metals, and energy stocks came under pressure. With global uncertainties and no major domestic triggers, the market may remain in a consolidation phase.
Traders will be closely watching crude oil movements, global interest rate signals, and any updates on the geopolitical front. Additionally, with changes in expiry cycles by exchanges now in effect, some shifts in market participation and intraday volatility may also be seen.
